TMFJMo (71.43)

February 2014

5

For investors Boston Beer (SAM) looks like it’s unfolding to be an amazing long-term growth story with no real end in sight. Did you know that Boston Beer helped to redefine the term “craft brewer”? It’s true. In January 2011, the board of directors of the Brewers Association amended the definition of a craft brewer from one that produces up to 2 million barrels per year to one that produces up to 6 million barrels each year. While the decision primarily reflected the overall growth in the industry, the board noted that, with Boston Beer creeping up on the 2 million barrel threshold, the company’s exclusion from industry statistics would inaccurately reflect on the craft brew industry’s overall market share. [more]